Nordic Semiconductor (Buy, TP: NOK272.00) - BUY on near-term concerns
While there is some uncertainty surrounding the supply chain heading into Q3–Q4, we see this as a transitory issue. We expect accelerating traction for Nordic Semiconductor’s burgeoning Cellular IoT business to alleviate any near-term supply chain-related challenges for its short-range business. In our view, accelerating revenues in Cellular IoT are likely to fundamentally shift the narrative. Thus, we continue to advise investors to BUY, noting the recent weakness in the stock. We reiterate our BUY and lift our target price to NOK272 (250).Nordic Semiconductor is a fabless semiconductor company which designs, sells and delivers integrated circuits and related intellectual property for use in short-range wireless applications. Co. is engaged in ultra-low power wireless solutions, based on its proprietary 2.4 Gigahertz Radio Frequency and Bluetooth Smart technology. Co.'s components are manufactured by subcontractors and sold through electronics distributors to manufacturers of branded electronics across a range of product categories. These categories include personal computer and tablet accessories, sports/health monitors, mobile phone accessories, media remote controls, home and industrial automation, and other applications.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.